City of Toronto building business opportunities in Mexico and Argentina

Councillor Michael Thompson (Ward 37 Scarborough Centre), Chair of the City's Economic Development Committee, and George Spezza, the City's Director of Business Growth Services, will represent the City on a business mission to Mexico and Argentina February 17 to 23.

"This mission builds on our ongoing efforts to create international trade and export opportunities for Toronto’s small and medium-sized businesses," said Councillor Thompson. "The mission will support international collaborations already underway, and demonstrate to our trading partners throughout the Americas that Toronto is serious about expanding our international trade."

The mission will primarily be focused on visits to Mexico City and Buenos Aires, Argentina. While in Mexico City, a Memorandum of Understanding (MOU) will be signed between the City of Toronto and Mexico City.

In 2016, the City of Toronto, in collaboration with consulates from Argentina, Brazil, Chile, Colombia, Ecuador, El Salvador, Mexico, Panama, Peru, Uruguay and Venezuela, established a Latin American Bilateral Trade Initiative (LABTI). The initiative promotes a strong and effective bilateral relationship between Toronto's Latin American business community and the City by encouraging collaboration and joint initiatives, such as this mission, that are mutually beneficial.

In 2016, Toronto was selected as a location for the international Americas Competitiveness Exchange program, which saw the city host economic and political decision makers from across the Americas. That same year, Toronto signed MOUs with COMCE Noreste (Monterrey, Mexico) and Uruguay XXI, the investment and export promotion agency of Uruguay. In 2015, the City created stronger business relationships with Brazil's two largest economic areas by becoming a Partner City with Rio de Janeiro and by signing an MOU with Investe São Paulo. Toronto also continues its Friendship City relationship with Quito, Ecuador, which began in 2006.

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